GBP/USD: Increasing bullish momentum as we push on up through the psychological $1.4000 level and the US dollar.. Chart from Analyst, Nicole Elliott – Investors Chronicle.

 

GBP/USD SHORT TERM TRADER: Long at 1.3855; stop well below 1.3900. Target 1.4250.

GBP/USD POSITION TAKER: Long at 1.3730; stop below 1.3750. Holding out for my second target around 1.4600.

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JP Morgan to dish out $20bn Courtesy of Trump tax cuts

The US’s biggest investment bank, JP Morgan Chase, said yesterday that money saved from the new tax regime passed recently by the government will be reinvested in its operations over the next five years. Wage rises of between $15 and $18 per hour will be given to 22,000 employees; new Chase branches will open in 400 locations and another 4,000 employees will be hired to cover small business lending. CEO Jamie Dimon said, ‘’having a healthy, strong company allows us to make these long-term sustainable investments’’.

Former JP Morgan CEO and current head of Barclays bank in Davos yesterday told the audience that capital markets have very little capacity to deal with a move in real interest rates, Bloomberg reports. The global economy ‘’seems like we’re in a pretty good place right now. But we’ve got a monetary policy which still seems like it’s in the remnants of the depression era’’.

Financial & Political Commentary

 

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